ISS, an adviser to large investors such as mutual funds, said the two had failed to manage the company’s search for a new chief executive. Occidental shares rose 3.3% on Thursday, the top gainer among energy stocks in the S&P 500.

A feud between Irani and Chazen has led to shareholder discontent at the Los Angeles-based energy company. Occidental announced in February it was looking for a replacement for Chazen, who said he wasn’t looking to leave.

“The vast majority of shareholders we speak to clearly prefer that Mr. Chazen stay on board,” analysts at UBS said in a note to clients Thursday.

ISS also recommended shareholders vote against Occidental’s executive pay policies. ISS recommendations are not binding but thought to be influential. “With many institutional investors typically following ISS recommendations, we believe there is a greater chance that the board will reverse course and allow” Chazen to stay as CEO, the UBS analysts said.

Occidental shares have underperformed since the February 14 news it was seeking a new CEO. If Chazen stays on as CEO, he would likely seek a break-up of Occidental to unlock share value, the UBS analysts said.

Occidental has a strong chemicals unit and some analysts have speculated it could be profitably spun off.

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